Download New ACCT 557 Week 6 Quiz

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Download New ACCT 557 Week 6 Quiz

 

  1. Question (TCO F) Which of the following would not be disclosed within a statement of cash flow?
  2. Question (TCO F) Which of the following is not true?
  3. Question (TCO F) Glitter Girl, Inc. recognized net income of $205,000 including $60,000 in depreciation expense. Additional changes from the balance sheet are as follows.
    Accounts Receivable $2,000 decrease
    Prepaid Expenses $15,000 decrease
    Inventory $36,000 increase
    Accrued Liabilities $10,000 decrease
    Accounts Payable $40,000 increase
  4. Question (TCO F) Pig Builder’s, Inc. shows the following as of December 31, 2012.
    A -c quired 50% of Wolf Corp’s common stock for $160,000 cash,
    which was borrowed from Granny’s Bank.
    I s-s ued 5,000 shares of its preferred stock for land having a fair value of $320,000
    I s-s ued 500 of its 11% debenture bonds, due 2017, for $392,000 cash
    P -a id $120,000 toward bank loan.
    P -u rchased a patent for $220,000 cash
    S -o ld available for sales securities for $796,000
    R -e cognized $88,000 net increase in returnable long term customer deposits
    Pig’s net cash provided by investing activities for 2012 is
  5. Question (TCO F) Pig Builder’s, Inc. shows the following as of December 31, 2012.
    A -c quired 50% of Wolf Corp’s common stock for $160,000 cash which was borrowed from Granny’s Bank.
    I s-s ued 5,000 shares of its preferred stock for land having a fair value of $320,000

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